Deutsche Bank loaned over $2 billion to Trump: MERGED (ethical, illegal, Clinton)
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It's a foreign bank, the US can do nothing unless the bank wants them to if there is in fact a crime which I doubt.
Possibly sanctions violations, but that depends upon the timing. Russia overran Crimea five years ago so it would have to be in that time frame.
Also, money laundering IS a crime, and if some of that money found it's way into the USA it is a concern for the US government. The US government can and will impose fines on foreign banks doing business involving the USA.
One of the well known vehicles for laundering large amounts of cash is the real estate industry. So if you know of any big American names in real estate that do business with Deutsche Bank let the FBI know ...
Exaggerating your wealth in order to secure loans is pretty tame in the general scheme of things in my opinion, heck I knew a guy years ago that used to exaggerate his earnings from his lawn care company, and pay the extra income tax, JUST so he could qualify for large signature loans, (it wasnt the smartest thing financially, but hey, we all know that!)
May be lame to *you*, but federal and local statues call it FRAUD. People can and have been put away for such things.
That being said nearly all lenders either in house, and or from other sources can put together a pretty accurate picture of one's income. You're telling MasterCard household income is $500k per, yet you've got several credit cards maxed out (or near), and you are making minimum payments, then yes something needs to be looked into.
Case in point; a co-worker applied for an online loan; completed the application basically overstating his income. Soon as he hit "click" the thing was returned with a decision that he needed to send W2, tax statements or some other official proof of income. Lender simply stated his income (as stated) didn't match what they had in files, and or they couldn't verify same.
Trump's a winner, the bank realizes it and loans him money. Success breeds success.
You might want to question why this was the only bank that would give Trump loans. Remember early on he threatened the FBI to not look at his finances, so much for that.
TRUMP LIED TO THE BANK and they not only let him get away with it, but continued to give him money?
The bank was pushing money that had to find a home. If the original source of the money understood the risks they might be agreeable and the deal could go through. There is no 'FDIC' for Russian mob money.
The bank is a facilitator to the transaction, ultimately it's not their money and never was, they are just eager to skim a percentage and report some big fat profits to the stockholders.
Don't see the point of this thread, and or the NYT piece for that matter.
Everyone following the antics of DT knows DB lent him considerable sums basically based upon whatever he stated as income/personal guarantees.
Everyone following DT also knows that for years now DB made such loans to DT because no other bank would touch him with a barge pole. That and after having made the first set of loans they pretty much had to double down on those bets.
Said this at the time, and am doing so again; really no one besides DT and maybe a few select others close to him have any real idea of his true wealth. Most of what he claims are either outright lies and or various schemes/scams meant to inflate his status both personal and business.
Every time DT approached banks/other lenders for money they said "fine, let's see your books", and DT refused. He offered them his personal gurantees and they all said "no", let's see your money.
DB for reasons of their own were the only eejits to lend DT money based really (again) on whatever he said his finances were, rather than any actual in depth audit.
Other worry for lenders was DT's habit of filing bankruptcy (or threatening to do so) as a means to force creditors to refinance and or otherwise deal with debts in ways he wished. Again other banks were wary, but DB was in for the kill.
As have also said repeatedly since DT became POTUS; there are reasons why the man has and will not release his full (or any part IIRC) tax returns.
Part of problem dealing with DT's finances is that much of his so called wealth is tied up to branding (that Trump name), real estate and other assets that are hard to fix certain value.
Here will cut His Orangeness some slack; anyone who owns property knows valuations often fluctuate depending upon who is asked. Zillow has one estimate, local property taxing authority another, what you yourself think the property is worth is also often another number as well.
"If you owe the bank $2,000, you have a problem. If you owe the bank $2,000,000,000, the bank has a problem."
Yep.
And what led Trump to realize that back in the day was when he told a bank to go ahead and take the yacht and the bank's response was 'We don't want it'.
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